Thursday, 24 November 2016

Landlord Must Be Aware While Choosing Tenants

Certain tenants are making your life as a
landlord a breeze while others make your life a living nightmare. Taking the
time to choose the right tenant for your property can help protect your
investment.

Here are some tips for placing a tenant in
your rental.

1. Adhere to the
Federal Fair Housing Rules

Your desire to find the right tenant for your apartments for rent does not make you exempt from adhering to the Federal Fair Housing
Act.

You must always follow these rules so you are
not accused of discrimination. In short, you cannot discriminate based on:

National origin

Religion

Sex (Male or female)

Familial status (families with children)

Disability

2. Choose a
Tenant with Good Credit

You want to look for a tenant who is
financially responsible. If they are responsible with paying their bills, they
will most likely pay their rent on time. Be responsible with your apartments as your home.
This is a two-step process:

üVerify Their
Income

üAsk for copies of
their pay stubs

üRun a Credit
Check

üCheck their
income/debt ratio.

3. Perform a
Criminal Background Check

Criminal information is public record so you
can be viewed at various court or police station. This check is turn up both
serious and minor offences. To run one, you are needed the tenant’s name and
date of birth. You must check a valid ID to verify that they are who they say
they are.

There is nationwide database of criminal
records, so it may not be hard to uncover the tenant’s full story. It may be
best to hire a reputable tenant screening this check. It can often be combined
with for a fee of course, the credit check.

4. Consider the
Tenant's Rental History

If it is possible you should talk to at least
two of the tenant's previous landlords. If the tenants were a culprit, the
current landlord may not be as truthful as they may just want to get the tenant
off of their hands.

Questions you should ask:

Did they pay
their rent on time?

Did they give 30 days’
notice prior to moving anywhere?

How did they keep
their apartment? Were they clean the apartments?

Did they cause
any damage to the apartment other than normal wear and tear?

Were they
respectful of their neighbours?

5. Choose a
Tenant Who Is Consistent

On the application form you look at the
tenant's prior addresses and employment history. Do they move or switch jobs
often. They have able to afford the apartment in three months or not?

6. Look for a
Maximum of Two People per Bedroom

Although you have specific rules regarding the
number of occupants per bedroom, a rule of a maximum of two people per bedroom
is considered reasonable with the following exceptions:

ØSize and
configuration of dwelling - A unit with a living room and den could hold more
occupants than one without.

ØYou can give a
maximum number of people per apartment, but you cannot give a maximum number of
children per apartment.

ØIf capacity of
the system limits the number of occupants the dwelling can tolerate.

ØThe more people
per apartment, the more noise and the greater the wear and tear on your
investment.

Conclusion:-

Considering all the factors which are help you
choose the right tenant for your Apartments Houses for rent which you save your time and money by avoiding costly
evictions, non-payment and secure to your property.